Tax Roundup, 7/23/2013: It’s not a fixer-upper, unless you trip a mine. And how to spend your $104 million.

July 23rd, 2013 by Joe Kristan

20130723-1Ed and Elaine Brown won’t be needing their New Hampshire house anytime soon, so the IRS is selling it.  If you’re a potential buyer, good luck finding a home inspector.  TaxGrrrl reports:

While federal officials hope to unload the property, former home of Ed and Elaine Brown, in order to settle a number of debts, they’ve had to be clear that they can’t guarantee that explosives and other booby traps aren’t hidden on the property. Even more interesting? Your bid doesn’t guarantee you access to the property: you won’t be able to check it out until you’ve been deemed the winning bidder and agreed that you absolve the government from any bad stuff that could happen after you enter the property. You know, like losing a limb or dying. Despite having bomb detection devices and dogs on the property, authorities can’t guarantee that the property is clear from bombs and other booby-traps.

The Browns were well prepared for a regular armed assault when they holed-up in their house following their convictions on federal tax charges.  So federal authorities wisely posed as supporters of the Browns incoherent cause; the Browns invited them in, where they surprised and arrested the couple.

If you want to get away from it all, but have small children or limbs that you don’t want to take chances with, the IRS Auction website has plenty of real estate to choose from, including 31 wooded acres near Spooner, Wisconsin pictured above.

Kay Bell has more.

 

All righty, then. A Cincinnati IRS Lawyer Speaks:  We Are Democrats, But Nonpartisan Democrats(TaxProf).  Well, then, I’m sure the Tea Party folks are now completely reassured.

Watch out for scandal creeps. IRS scandal creeps closer to White House (Mike Hashimoto)

Shooting the messenger.  The Smearing of J. Russell George   (Eliana Johnson)  As the IRS scandal heats up, expect more of this.

I’m sure they were talking tax policy.  Embattled IRS chief counsel met with Obama 2 days before agency changed targeting criteria (Daily Caller)

Richard Borean, Monday Map: Growth in State Government Spending, 2001-2011

20130723-2

 

Paul Neiffer, Will Crop Insurance Proceeds Be Deferrable This Year?  “The income tax laws allow you to defer crop insurance proceeds related to yield loss, but not price loss.”

Kay Bell, The many U.S. tax breaks for your little prince or princess

News you can use.  How Not To Run A Side Business: Navigating The Hobby Loss Rules (Tony Nitti)

 

Tax Justice Blog, OECD Action Plan Would Reduce Corporate Tax Avoidance But Fails to Propose Fundamental Reform

Martin Sullivan, How Will Business Lobbyists Spin the OECD Action Plan? (Tax Analysts Blog)

Jeremy Scott, Shedding Light on Advance Pricing Agreements (Tax Analysts Blog)

Peter Reilly, Freedom Rider Asks To Give Peace A Chance – Peace Tax Fund Act Of 2013

Brian Mahany, Two Florida Physicians & CPA Indicted in Unreported Foreign Accounts Scheme

 

It’s Tuesday, so it’s Buzz-day at Robert D. Flach’s place!

Claire Celsi, All Media is Biased (IowaBiz.com).  Yes, even the Tax Update.

It’s OK, the drinks are on the IRS.  Brad Birkenfeld, who received $104 million as an IRS reward for blowing up Swiss bank secrecy, seems to be using his reward as many of us might. Portsmouth Patch reports:

Bradley Birkenfeld, a whistleblower who received an enormous award for helping expose tax evaders, was arrested in Portsmouth.

Birkenfeld, 48, of Rye Beach, was charged with DWI at a roadblock set up by police Friday night. He was released on $750 bail.

Yes, it’s important to set the bail high enough to ensure the defendant shows up for court.

Unless they’re lifeguards.  Studying for the CPA Exam at the Beach Isn’t Really an Option Since Most Candidates Have Jobs (Going Concern)

 

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